THE ROARING 20S 1920 1929
AMERICAN ECONOMY IN THE 1920S
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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They earned enormous wealth on rising land values.
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They were left with nearly worthless plots of land.
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They avoided the decrease in land values across the country.
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They drove prices so high that no one could afford to live there.
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Detailed explanation-1: -The Florida land boom of the 1920s was Florida’s first real estate bubble. This pioneering era of Florida land speculation lasted from 1924 to 1926 and attracted investors from all over the nation. The land boom left behind entirely new, planned developments incorporated into towns and cities.
Detailed explanation-2: -The increasing prosperity of the 1920s brought growing numbers of tourists, new residents, and land speculators to resort centers in South and Central Florida, but few to Jacksonville. As interest in Florida grew, the expanding numbers of land buyers created a frenzy of real estate sales and development downstate.
Detailed explanation-3: -Finally, the Wall Street Crash of 1929 led to the Great Depression, which officially ended the Florida Land Boom of the 1920s.
Detailed explanation-4: -Its location, its natural resources, and its beauty can all impact how much a piece of land costs. A land “boom” happens when land prices in one area rise very quickly.